Bitcoin (BTC) Dips Below $122K, ZCash (ZEC) Explodes by 35%: Market Watch

The past 24 hours saw Bitcoin attempt to surge past the $124K level but failed and is now attempting to establish a range around $122K. The altcoins experienced more substantial ￰0￱ (ZEC) posted a double-digit price increase, whereas Aster (ASTER) leads the losers’ ￰1￱ Calms Down It has been less than three days since the primary cryptocurrency soared to a new all-time high of over $126,000. Since then, however, the bears took charge and prevented another spike to uncharted ￰2￱ one point yesterday (October 8), the bulls attempted to regain control and pushed the valuation to $124,000. Nonetheless, that surge was short-lived, and BTC headed south to as low as $121,500.

In the past several hours, the volatility has been minor, with the asset hovering in the $121,500-$122,000 ￰3￱ Price,) as a result of Jerome Powell’s ￰4￱ Chairman of the Federal Reserve is expected to discuss the US economic outlook, focusing on inflation, growth, and the path of interest ￰5￱ will closely monitor the Fed’s signals on whether it plans to cut rates further or pause, as well as how Powell assesses inflation risks and economic ￰6￱ clues that the central bank is more likely to lower the benchmark could increase the interest in risk-on assets and positively impact BTC’s ￰7￱ opposite scenario may have an adverse effect, causing a short-term pullback.

Bitcoin’s current market capitalization is approximately $2.42 ￰8￱ dominance over the altcoins remains relatively unchanged at around 56.8%. How are the Alts Doing? Several well-known altcoins have made the headlines today due to registering significant price ￰9￱ (ZEC) is the best-performing cryptocurrency from the top 100 club with a daily rise of 35%. Mantle (MNT) comes next with a gain of 9%, whereas Monero (XMR) and Ethena (ENA) have pumped by 3-4%.

Aster (ASTER) stands in the opposite corner, with a 12% loss on a 24-hour ￰10￱ (PUMP), Cronos (CRO), OKB (OKB), Bonk (BONK), Pi Network (PI), and Hyperliquid (HYPE) have also entered red territory, albeit posting less substantial ￰11￱ total market capitalization of the crypto sector has decreased by 1.3% to $4.23 ￰12￱ Market Overview,) Dips Below $122K, ZCash (ZEC) Explodes by 35%: Market Watch appeared first on CryptoPotato .